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with the tax and fiscal cliff looming 21 days from now, is there a reason for even some slight optimism this evening? joining us now in studio, we welcome distinguished house members carolina maloney of new york and larry kudlow's house member in manhattan. and the republican from arizona. as always, welcome to both of you. dave, let me ask you this. i'm hearing a lot of this that there is a strategic retreat by the republican party. 57b and that they are not either in the house or senate going to block the middle class stax tax cuts which proliferate in terms of the bill. is that true, sir? >> i haven't been invited into the strategic retreat caucus. look. i hear more on the news than i ever actually come across in reality in d.c. so far, i do not see a willingness, particularly on the conservative side of the caucus, to give away our principles. >> i heard rand paul thursday night on this show. he sent a message to majority leader reed that he, rand paul, was a tea party caucus guy, free market guy, will not filibuster. he wants to get through it. he's going to vote against tax cuts b
with the tax and fiscal cliff looming 21 days from now, is there a reason for even some slight optimism this evening? joining us now in studio, we welcome distinguished house members carolina maloney of new york and larry kudlow's house member in manhattan. and the republican from arizona. as always, welcome to both of you. dave, let me ask you this. i'm hearing a lot of this that there is a strategic retreat by the republican party. 57b and that they are not either in the house or senate going...
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Dec 12, 2012
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i do not believe we will fall into the fiscal cliff meaning that neither party will let the tax cuts expire. i think republicans are going to stay at a retreat and voting to extend the middle class tax cuts. that will avoid the miss kal cliff situation. and i may not like this deal at all. one reason stocks are behaving wellky well. speaker john boehner is pushing the president to offer spending cuts. so with 20 days to grow, is this likely? am i going to be proven right or whong? larry, we are going to avoid the fiscal cliff resection. the white house is acting with impunity right now. and the white house is so far said look, we want to continue talking about one quarter of the president's own architecture. the president said there was a three to one ratio between savings and cuts and revenue. but they have been silent on this. >> little bit of breaking news. >> wow, the studio is shaking. mr. bhoener is at $800 million. no new information on then ti e ti tiltment. i'm suggesting. it is a game of chicken. neither party can afford this kind of recession. after what we've been through
i do not believe we will fall into the fiscal cliff meaning that neither party will let the tax cuts expire. i think republicans are going to stay at a retreat and voting to extend the middle class tax cuts. that will avoid the miss kal cliff situation. and i may not like this deal at all. one reason stocks are behaving wellky well. speaker john boehner is pushing the president to offer spending cuts. so with 20 days to grow, is this likely? am i going to be proven right or whong? larry, we are...
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Dec 7, 2012
12/12
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that would seem to back up a republican theme in the fiscal cliff argument. >> if we raise taxes on the top two rate, a million small businesses who employ 25% of the work force it will cost us over 700,000 jobs and reduce economic growth, lower take home pay and those things. that is a bad scenario. >> the league negotiator on the republican side of the table facing mr. obama says raiding taxes on upper -- raising taxes on upper income americans is not going to fix the problem that the country is facing. >> even the president got the tax rate hike he wanted understand we would continue to see trillion dollar deficits for as far as the eye can see. listen, washington has got a spending problem, not a re-knew problem. >> for many top democrats it's all about taxes and not spending cuts in averting the fiscal cliff. >> the facts are at that point the 39.6% does produce the revenue. the differentiation between 39.6% and the 28% at that the president has for limitation on deduction creates a great deal of money as well. >> one conservative financial commentator suggests the likely outcome o
that would seem to back up a republican theme in the fiscal cliff argument. >> if we raise taxes on the top two rate, a million small businesses who employ 25% of the work force it will cost us over 700,000 jobs and reduce economic growth, lower take home pay and those things. that is a bad scenario. >> the league negotiator on the republican side of the table facing mr. obama says raiding taxes on upper -- raising taxes on upper income americans is not going to fix the problem that...
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Dec 6, 2012
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cliff expire, go down the fiscal cliff for tax rates, and adjust the taxes for the 98% through the rebate process. and this could be available for anyone, any president. let the bush tax rates apply as a ceiling, and then apply the rebate process to control the 98%. host: why do you propose that? what is the advantage in your view? caller: because the executive branch, the president, whoever it is, would have the ability to adjust the tax effectively for anyone who falls below the clintons' ceiling, and they could do this anytime. there would not have to go back to congress. -- they would not have to go back to congress. guest: it is true that technically the administration can do some things without even the congress's approval, but it would not be a lasting solution. let's say you could freeze the amount of withholding that you pay three paycheck at the level it was this year, for the 98%, and increase withholdings for everyone else as the law would dictate if you read over the cliff. -- went over the cliff. but the 98%, if they did not actually pass a law to extend the tax cuts for tha
cliff expire, go down the fiscal cliff for tax rates, and adjust the taxes for the 98% through the rebate process. and this could be available for anyone, any president. let the bush tax rates apply as a ceiling, and then apply the rebate process to control the 98%. host: why do you propose that? what is the advantage in your view? caller: because the executive branch, the president, whoever it is, would have the ability to adjust the tax effectively for anyone who falls below the clintons'...
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Dec 5, 2012
12/12
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if we're going off the fiscal cliff, we know capital gains tax rates are going higher, right? right? that's obvious. do you think the republicans have the power to keep those capital gains rates down? apple's become a referendum on the president's power. right now he has the upper hand, then he can really roll them and intends to do so. it's reasonable to take some profits so you can pay the tax man more now rather than later. it's a wimpy thing, it's logical, makes perfect economic sense. so the stock gets hammered. it makes sense to sell it. but let's be less emotional and even clinical about this one. first, divide apple's share price by ten, now you have a stock that got crushed down to $54. when you do that, it isn't all that scary, is it? where does the pessimism fit in? when we have to endure the pin the tail on the selloff game, what excuses for the selloff myriad alibis i hear from today's action. apple's losing share to google, it doesn't have the right phones in europe, nokia's making a comeback, the mini isn't selling, there's no special dividend, we've got a stock
if we're going off the fiscal cliff, we know capital gains tax rates are going higher, right? right? that's obvious. do you think the republicans have the power to keep those capital gains rates down? apple's become a referendum on the president's power. right now he has the upper hand, then he can really roll them and intends to do so. it's reasonable to take some profits so you can pay the tax man more now rather than later. it's a wimpy thing, it's logical, makes perfect economic sense. so...
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but the special dividend, ahead of this, this fiscal tax, cliff tax cliff. lori: we're with you. >> not going to happen. just not going to happen. there is no incentive to do so. lori: except for the fact shares evaporated so much from the $700 peak, right? >> yeah. the special dividend shows some assertiveness, financial strength, yes we have all the cash we can put it to work. at this point over the last three months apple shares have been down 17%. i think it is coming into question whether apple is the same apple that it was five years ago. melissa: for sure. >> it could certainly signal something but not going to happen right now. lori: appreciate that report. thanks, shibani. melissa: as more investors look for inflation hedges, hedge funds and endowments are hiding or adding hard assets to their stock portfolio. one to look at is medallion financial. robert gray spoke exclusively with the company's president. >> that's right, melissa. you can literally hail it as a public proxy for assets whose meter is running higher than other asset classes for deca
but the special dividend, ahead of this, this fiscal tax, cliff tax cliff. lori: we're with you. >> not going to happen. just not going to happen. there is no incentive to do so. lori: except for the fact shares evaporated so much from the $700 peak, right? >> yeah. the special dividend shows some assertiveness, financial strength, yes we have all the cash we can put it to work. at this point over the last three months apple shares have been down 17%. i think it is coming into...
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Dec 11, 2012
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how the fiscal cliff could impact your tax bill? calculate how much you would pay under different policy scenarios on paul's "making sense" page. >> ifill: once congress gets past its budget woes, another huge domestic challenge awaits. republicans and democrats have said they will take up immigration reform. the question is how. last week a new pew hispanic center report showed illegal immigration is on the decline. last year there were 11.1 million illegal immigrants living in the country, down from 11.2 million in 2010. that's down from a peak of 12 million unauthorized immigrants reported in 2007. latino voters overwhelmingly supported president obama in november, and he has said immigration reform will be high on his second term agenda. homeland security secretary janet napolitano will oversee the administration's next steps. ray suarez sat down with her earlier today. >> suarez: secretary napolitano, welcome to the program. >> thank you. suarez: over the week past there's been a lot of reporting saying once we figure out what
how the fiscal cliff could impact your tax bill? calculate how much you would pay under different policy scenarios on paul's "making sense" page. >> ifill: once congress gets past its budget woes, another huge domestic challenge awaits. republicans and democrats have said they will take up immigration reform. the question is how. last week a new pew hispanic center report showed illegal immigration is on the decline. last year there were 11.1 million illegal immigrants living in...
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Dec 13, 2012
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when you think about fiscal cliff, the bush tax cuts have collapsed, sequestration cuts spending, and then there's a trillion dollar tax increase that obama has over the next decade to pay for obamacare. interestingly, he decided to delay those taxes until after he was reelected. but they start kicking in in january. very painful and hit the middle class hard. the reason not to raise taxes is to have a spending problem. we spent too much money. raising taxes is not part of spending less. it's not part of a compromise or anything. it is what politicians do instead of. reforming of - instead of reforming government. europeans eventually put in energy taxes and that is what obama is doing. he spent his five trillion dollars in the first term and wants to take us a trillion dollars more in debt over the next decade. there's no way to raise taxes to pay for that. we have to rein in spending. raising taxes is what politicians do when they don't have the courage to reform government. host: you can read this new press release on the internet. canada and middle-class families face high medical
when you think about fiscal cliff, the bush tax cuts have collapsed, sequestration cuts spending, and then there's a trillion dollar tax increase that obama has over the next decade to pay for obamacare. interestingly, he decided to delay those taxes until after he was reelected. but they start kicking in in january. very painful and hit the middle class hard. the reason not to raise taxes is to have a spending problem. we spent too much money. raising taxes is not part of spending less. it's...
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Dec 7, 2012
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cliff frenzy, everyone is talking taxes but is anyone really talking about spending cuts? that is supposed to be half the deal to avoid the cliff. president obama doesn't want to talk about spending cuts. congressman aaron schaak is on the house, ways and means committee. good evening, sir. >> good evening. >> what about the spending cuts? >> the president made is very clear during his campaign he wanted a balanced approach. he talked repeatedly about raising taxes on the wealthy. he continues to talk about raising tax on the well think. >> the tax rate. >> right, the tax rates on the well think and beyond raising taxes on the well think, tax rates on the well think, he said he wanted a balanced approach etch said during the campaign he wanted $2.50 in cuts for every $1.50 in revenue. yet you saw the only proposal come from him sense the election was four dollars in revenue for one dollar in cuts. it was $1.6 trillion in revenue and $400 trillion in cuts and $300 trillion in additional stimulus spending in addition to that. but completely the opposite in cracks to his own
cliff frenzy, everyone is talking taxes but is anyone really talking about spending cuts? that is supposed to be half the deal to avoid the cliff. president obama doesn't want to talk about spending cuts. congressman aaron schaak is on the house, ways and means committee. good evening, sir. >> good evening. >> what about the spending cuts? >> the president made is very clear during his campaign he wanted a balanced approach. he talked repeatedly about raising taxes on the...
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we'll discuss the fiscal cliff with our "morning joe" panel. >>> and now, mercifully, i need your help. are you with me on this one? the phrase fiscal cliff, i'm over it, time's up, date reached on the expiration, nails on the chalkboard annoying. can't we be a little more creative? this is where you come in. e-mail your alternative to the phrase "fiscal cliff," and i'll use the best one tomorrow on our show. we won't use fiscal cliff, i promise. so far, my best, budgetary bluff? yeah, the bar's been set very low. >>> up next, we'll huddle around the water cooler, where jon stewart stepped out of his comfort zone with an eminem-inspired rap for the michigan protesters. >>> well, enough with the real news. let's gather around the water cooler. and first, a little moment of silence. louis louis, who wouldn't miss a second of on-camera opportunity has been talking to the porcelain god all night. not sure why. we wish you the best, louis. see you tomorrow morning. >>> well, a day like today won't come around for another 89 years. it's 12/12/12. no, it's not a sign of the apocalypse, but th
we'll discuss the fiscal cliff with our "morning joe" panel. >>> and now, mercifully, i need your help. are you with me on this one? the phrase fiscal cliff, i'm over it, time's up, date reached on the expiration, nails on the chalkboard annoying. can't we be a little more creative? this is where you come in. e-mail your alternative to the phrase "fiscal cliff," and i'll use the best one tomorrow on our show. we won't use fiscal cliff, i promise. so far, my best,...
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irrespective of the fiscal cliff, we are going to have $270 billion in tax hikes that start effective january 1. thank you, obamacare. nancy pelosi has said that if you want to find out what's in it, just pass it. we are finding out and we are going to have a terrific group of people, including john cruz, the vice president of hsbc, who is the whistleblower on the $1.9 billion in fines if they just had to pay for money laundering along with middle eastern terroris. mexican drug cartels, african dictators, all of the really nice people tht they had no idea where problem. by the way, nobody going to jail will be taking that up. we will have coming up next. tracy: all right, "lou dobbs tonight" at 7:00 p.m. and :00 p.m. eastern. when we come back, how to beat the street. covering your assets with tips with picking winners on wall street. stay with us .racy: earnings season kicks off tracy: where has the time gone? earnings season kicks off in less than a month from now. here with advice on how to pick stocks for earnings, we have the author of the options handbook. before we get intoall
irrespective of the fiscal cliff, we are going to have $270 billion in tax hikes that start effective january 1. thank you, obamacare. nancy pelosi has said that if you want to find out what's in it, just pass it. we are finding out and we are going to have a terrific group of people, including john cruz, the vice president of hsbc, who is the whistleblower on the $1.9 billion in fines if they just had to pay for money laundering along with middle eastern terroris. mexican drug cartels, african...
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we talk a lot about your taxes going up buzz because of the fiscal cliff but your kids could suffer too. the impact on the classroom. that's coming up at 6:07. good morning. you're watching 9news. >>> welcome back. if your kids are getting new bikes for christmas, we have a great place that you can donate one of their old ones. here's an example of one of the old ones that's getting donated. joining us is winston and juang. why did you decide to get involved with this and do this effort? >> i started this charity about seven years ago with our -- our mom and i went over to africa. i saw a lot of people walking and in particular i saw all the women walking. it really had an effect on me because it reminded me of my grandmother. i wanted to know how i could help these people. my first thought was to send them cars or to send them food but nobody has an old car to give and food is just temporary. so i thought why not give them a bike because a bike can be used anywhere. it can be a means of transportation. it was a great solution. >> you guys have a pretty big goal this year, right? >> yes
we talk a lot about your taxes going up buzz because of the fiscal cliff but your kids could suffer too. the impact on the classroom. that's coming up at 6:07. good morning. you're watching 9news. >>> welcome back. if your kids are getting new bikes for christmas, we have a great place that you can donate one of their old ones. here's an example of one of the old ones that's getting donated. joining us is winston and juang. why did you decide to get involved with this and do this...
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with about four weeks to go before that fiscal cliff of tax hikes and spending cuts gets triggered, negotiations still appeared at a standstill on tuesday. karin caifa tells us where everything stands. >> in the midst of a standoff with capitol hill republicans, president obama told bloomberg news that the latest plan put forth by house speaker john boehner, simply doesn't add up. the >> speaker's proposal right now is still out of balance. he talks about, for example, eight hundred billion dollars worth of revenues but he says he will do that by lowering rates. when you look at the math, it does does not work. >> not work. as negotiations as negotiations to avoid the so-called "fiscal cliff" continue, republicans were equally dismissive of the last proposal from the president. >> his proposal was so outlandish i don't think we should go back to the table until he puts something there that we can work with. >> the key sticking point between the two sides hasn't changed -- tax rates for the wealthy. >> the math is clear. the only way to accomplish these things is to allow the rates to go up on th
with about four weeks to go before that fiscal cliff of tax hikes and spending cuts gets triggered, negotiations still appeared at a standstill on tuesday. karin caifa tells us where everything stands. >> in the midst of a standoff with capitol hill republicans, president obama told bloomberg news that the latest plan put forth by house speaker john boehner, simply doesn't add up. the >> speaker's proposal right now is still out of balance. he talks about, for example, eight hundred...
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Dec 10, 2012
12/12
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another republican apparently willing to agree with tax hikes to get a deal on the fiscal cliff. that is the case now. what do republicans get in return? senator lindsey graham is live on that. martha: looks like a beautiful morning everywhere, doesn't it. new reaction as details are now emerging in yet another nfl football tragedy. this time a crash that killed a dallas cowboy player and left another player charged with manslaughter this morning. >> i think everyone in our organization who knew him is completely numb and has been numb the last couple days. football is a game of emotion. a lot of different emotions circulating. somehow how some way, we have to process it all and understand that life is different than football and we had a job to do today gressiv, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, i'm good. you got it? yes. rates for us and them -- now that's progressive. call or click today. music: "make someone happy" music:
another republican apparently willing to agree with tax hikes to get a deal on the fiscal cliff. that is the case now. what do republicans get in return? senator lindsey graham is live on that. martha: looks like a beautiful morning everywhere, doesn't it. new reaction as details are now emerging in yet another nfl football tragedy. this time a crash that killed a dallas cowboy player and left another player charged with manslaughter this morning. >> i think everyone in our organization...
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cliff and that is the real fiscal cliff $16 trillion debt which the tax you have 200,000 less jobsve next year and the people voting for that will be responsible and held accountable for the public policy. >>neil: you have been talking about freeing out to the middle-class. for and reason in the last election republicans lost the middle class. they seemed to get stereotypes as the party that appeals only to the well-to-do. what i am asking you, how do you change that? the perception sticks in the eyes of some. >>guest: first of all, we need to understand the middle class makes us different and exceptional. every didn't has rich people but what makes us different in history is we have a broad based vibrant middle class. it is not just people in the hill class but millions of people that are trying to get to the middle class. i rely on my occupy life experience. my parents worked in the service industry, immigrants, they did not make a lot of money, a bartender and maid and they owned a house and a car. today all four of their children live a much better life because of them and becaus
cliff and that is the real fiscal cliff $16 trillion debt which the tax you have 200,000 less jobsve next year and the people voting for that will be responsible and held accountable for the public policy. >>neil: you have been talking about freeing out to the middle-class. for and reason in the last election republicans lost the middle class. they seemed to get stereotypes as the party that appeals only to the well-to-do. what i am asking you, how do you change that? the perception...
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Dec 13, 2012
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if the president and the senate majority refuse to compromise on the tax portion of the fiscal cliff agreement, the death tax will rise dramatically. arkansas farmers will be forced to hand over to uncle sam up to 55% of the value of family farmer states that are worth more than $1 million beginning in 2013. this would have a truly devastating impact on nearly a quarter of arkansas' family farms and ranches. with 97% of arkansas' farms being family owned, there is great concern among these agricultural producers, among our farmers, our timberland owners about the current inaction on the fiscal cliff, the fiscal crisis. a good example is allen nipper. he is a timber landowner who operates a tree farm in magnolia, arkansas. he wrote to me about what he rightfully calls multiple taxation. he says we know our lands provide clean water and wildlife habitats that benefit society in general without us expecting a handout or a payment for providing those services. he goes on to say but then at my death, the government wants to take up to 55% of the value after i have invested my efforts into
if the president and the senate majority refuse to compromise on the tax portion of the fiscal cliff agreement, the death tax will rise dramatically. arkansas farmers will be forced to hand over to uncle sam up to 55% of the value of family farmer states that are worth more than $1 million beginning in 2013. this would have a truly devastating impact on nearly a quarter of arkansas' family farms and ranches. with 97% of arkansas' farms being family owned, there is great concern among these...
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in regard to the fiscal cliff, i think the right thing to do is to let the tax rates go up across the board, just like they agreed to do. i think we ought to have middle income americans as well as high income americans having a reduction of those tax rate cuts we saw. tracy: take more from my paycheck, let the fed put money into the system. does it make sense at the end of the day? shouldn't i keep my money, get out there and spend it and let the fed keep theirs? >> well, that's, you got a good point, and i agree that instability and monetary policy is not very effective, and so i'm not looking for very much from the fed tomorrow. tracy: no, yao not alone, sir. wayne, former fed reserve governor, thanks for taking the time. >> you're welcome. tracy: all right. well, if you are fired up about this or any of the issues on the program, drop the show an e-mail at gerri@foxbusiness.com. >>> coming up on "the willis report," house speaker boehner and the republican accusing president obama of kicking the can down the road. >> the longer they slow down the process, the closer our economy ge
in regard to the fiscal cliff, i think the right thing to do is to let the tax rates go up across the board, just like they agreed to do. i think we ought to have middle income americans as well as high income americans having a reduction of those tax rate cuts we saw. tracy: take more from my paycheck, let the fed put money into the system. does it make sense at the end of the day? shouldn't i keep my money, get out there and spend it and let the fed keep theirs? >> well, that's, you got...
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talking about the fiscal cliff negotiations. a panel of business voters and politicians discuss health care costs. >> this week, hurricanes and the responses and housing issues. craig fugate and shaun donovan testify about hurricanes and the recovery efforts. on thursday, a testimony before the committee on federal housing administration and physical challenges. here on c-span. >> we have had these explosions of knowledge in medicine. but we have not coordinated care. all of these services we have end up having so many cracks that they are as harmful as the diseases we are treating. you have got to step back and ask, are we hurting people overall on a global level? what are we doing sometimes? now we have got these reports saying, 30% of everything we do may not be necessary in health care. when we step back, 30% of all the medications we prescribe, the tests we order, the procedures, this is something which is, for the first time, being called out as a problem. >> dysfunction in the u.s. health-care industry. what hospitals wil
talking about the fiscal cliff negotiations. a panel of business voters and politicians discuss health care costs. >> this week, hurricanes and the responses and housing issues. craig fugate and shaun donovan testify about hurricanes and the recovery efforts. on thursday, a testimony before the committee on federal housing administration and physical challenges. here on c-span. >> we have had these explosions of knowledge in medicine. but we have not coordinated care. all of these...
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cliff. decisions about taxes and spending are extremely important especially when we are adding $300 billion a day to our debt but the constant bickering of dueling politicians on both sides of the aisle, the endless kicking of the can, the brinkmanship as we approach that disaster is making all americans angry. i think you turned off and tuned out and i don't blame you. who can sit still and watch our country dragged into ruinous-and not be a little frustrated? as i said many times i came here from europe 40 years ago and instantly felt the warm embrace of a truly generous and free society and now i see america galloping down the european road. we have already reached european levels of debt and our leaders give as political pablum. we deserve better than this. the other night i left the fiscal cliff behind and took a walk through new york city. it was great. the lights, the christmas tree, rockefeller center, crowds of people with their children. was such a switch. "varney and company" wil
cliff. decisions about taxes and spending are extremely important especially when we are adding $300 billion a day to our debt but the constant bickering of dueling politicians on both sides of the aisle, the endless kicking of the can, the brinkmanship as we approach that disaster is making all americans angry. i think you turned off and tuned out and i don't blame you. who can sit still and watch our country dragged into ruinous-and not be a little frustrated? as i said many times i came here...
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. >> dana: i have something also about the fiscal cliff. something you haven't heard about is rural america is under threat from a major raise in taxes. death and state taxes. throw up the map. senator from wyoming put this out. 526,421 family farms threatened by the new death tax. mostly because assets are tied up in land. you're land rich and cash poor. this hurts a lot of people. >> greg: this plays in the old phrase buying the farm. >> dana: it plays in something i want to tease for friday, which is i am -- i got to buy the farm. get it. think we haven't heard that. >> bob: promote something? >> dana: on friday, tomorrow i'm going to vegas and i'm going to the national rodeo -- the national finals rodeo sponsored by wrangler. i went last year and i got to interview the rodeo queen. the new rodeo queen this year and talk to a few other people and chance to go to the rodeo and see my family. >> eric: that's nice. >> dana: that's it? "that's nice." >> kimberly: it sundays fun. you know how to ride a horse. >> bob: ride a bull. >> dana: we
. >> dana: i have something also about the fiscal cliff. something you haven't heard about is rural america is under threat from a major raise in taxes. death and state taxes. throw up the map. senator from wyoming put this out. 526,421 family farms threatened by the new death tax. mostly because assets are tied up in land. you're land rich and cash poor. this hurts a lot of people. >> greg: this plays in the old phrase buying the farm. >> dana: it plays in something i want to...
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as david pointed out, the fiscal cliff is more than the massive tax increases and the spending cuts. it's also about a number of other things including an extended unemployment benefits and the dock fix and so -- doc fix and so forth. there's a number of things that really need to be addressed, but as i think, this discussion is not about the fiscal cliff per se because if congress and president come together quickly and pass a bill very easy that puts off of the fiscal cliff, either in large period of time or indefinitely. it really is about making a down payment as both rudy and david have said on closing deficits in the future, but i would say it's also really about the president's campaign, not just in the past election, but the first -- his first election to hike taxes on the successful. that's really what this boils down to. i think we absolutely have to see some real leadership, though, on the more longer term budget unsustainable issues. what we don't need is campaigning. what we don't need is negotiating in the political theater. when we see that stop, then, perhaps, we'll k
as david pointed out, the fiscal cliff is more than the massive tax increases and the spending cuts. it's also about a number of other things including an extended unemployment benefits and the dock fix and so -- doc fix and so forth. there's a number of things that really need to be addressed, but as i think, this discussion is not about the fiscal cliff per se because if congress and president come together quickly and pass a bill very easy that puts off of the fiscal cliff, either in large...
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what they offered in return was an empty letter. >> when it comes to fiscal cliff that's threat nick our economy and threatening jobs, the white house has wasted another week. >> tax cuts is what caused the fall of the united states from super power status. >> this president just won a big election and you would think that he would want to lead. >> we've had the election. the president was clear in the campaign that he was advocating and fighting for the middle income tax cuts. >> tax cuts. the whole premise of tax cuts is going to be blamed for all of this economic mess. >> this is a moment of truth. the clock is ticking, christmas it coming, the goose is getting fat. in many homes across america, it's a very, very lean time. >> the reports indicate that the president has adopted a deliberate strategy to slow walk our economy right to the edge of the fiscal cliff. >> greta: with us is co-host of the five, greg gutfeld. he has a new book out, the joy of hate. he's been on a road trip having a book tour, so he has been talking to lots of people and they have been talking to him. so we
what they offered in return was an empty letter. >> when it comes to fiscal cliff that's threat nick our economy and threatening jobs, the white house has wasted another week. >> tax cuts is what caused the fall of the united states from super power status. >> this president just won a big election and you would think that he would want to lead. >> we've had the election. the president was clear in the campaign that he was advocating and fighting for the middle income...
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. >>> but first, the struggle over avoiding the fiscal cliff. new polling suggests support for president obama's position in the standoff with congressional republicans. >> the new associated press poll finds 48% of americans want tax cuts for wealthy to expire. and it says more people want to cut government services than raise taxes to reduce the federal deficit. >> now, if the nation goes over the cliff at the end of the year, it's going to affect everyone, including the unemployed, as abc's jonathan karl reports. >> reporter: melinda vega has been put on notice. if congress and the president don't get their act together, her unemployment checks will stop immediately at the end of the year. >> we're dependent on that money to pay our bills. >> reporter: she's been without a job for a year. her $450 a week unemployment check her life line. >> we won't be able to pay some of our bills and, i mean, you know, that's for christmas and things of that nature, probably off the table. >> reporter: she is not alone. without a deal, unemployment compensa
. >>> but first, the struggle over avoiding the fiscal cliff. new polling suggests support for president obama's position in the standoff with congressional republicans. >> the new associated press poll finds 48% of americans want tax cuts for wealthy to expire. and it says more people want to cut government services than raise taxes to reduce the federal deficit. >> now, if the nation goes over the cliff at the end of the year, it's going to affect everyone, including the...
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. >> who of wants to pick this up do we go over the fiscal cliff? >> yes. probably. 55% to 60% and early january they strike some kind of deal that allows the administration to say there decreasing taxes from what they went to in january 1st. i say 60% we are going over the cliff. dave: we are playing with fire if that happens. a lot of people say even if it is temporary it might push us into recession. quickly, you think that is possible that we will? >> certainly possible. interesting the consensus have gone from 50% to 60%. a month or two ago we were not going to go over the cliff. i agree that is completely flipped on its head and the only president in recent memory who headed debt ceiling in summer of 2011, all through july everyone was confident we were going to get a deal and we saw what happened. a little bit of cash on the sidelines to reload the. of the goal of the cliff, is not a bad thing for investors. dave: still a scary time. the possibility that we could go into recession as a result of that. thank you very much. michael, phil, we will check
. >> who of wants to pick this up do we go over the fiscal cliff? >> yes. probably. 55% to 60% and early january they strike some kind of deal that allows the administration to say there decreasing taxes from what they went to in january 1st. i say 60% we are going over the cliff. dave: we are playing with fire if that happens. a lot of people say even if it is temporary it might push us into recession. quickly, you think that is possible that we will? >> certainly possible....
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Dec 9, 2012
12/12
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the fiscal cliff involves nearly four dollars of anticipated revenue from higher taxes for every dollar of spending cuts, yet the president wants more revenue and fewer spending cuts. if we fell off the cliff, his plan calls for another round of stimulus spending. you have got to be kidding me. what the president's plan lacks is any reform in our entitlement system. the unrestrained growth in entitlement system is driving deficits and driving the debt even higher than the percentage of our gdp. it is estimated to be as high as $128 trillion. even if they confiscate all of the income that excesses $1 million, we cannot pay for the entitlement commitments that the federal government has made. we have made promises to ourselves that we simply cannot keep. without some sensible entitlement reform, our credit rating will be downgraded again. we will become a country that none of us recognize. secondly, fiscal plans failed to achieve their government budget deficit or debt reduction goals. dr. hassett has examined fiscal plans in other countries. on average, unsuccessful plans proposed an inc
the fiscal cliff involves nearly four dollars of anticipated revenue from higher taxes for every dollar of spending cuts, yet the president wants more revenue and fewer spending cuts. if we fell off the cliff, his plan calls for another round of stimulus spending. you have got to be kidding me. what the president's plan lacks is any reform in our entitlement system. the unrestrained growth in entitlement system is driving deficits and driving the debt even higher than the percentage of our gdp....
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Dec 10, 2012
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will the fiscal cliff affect your personal situation? only 6% say not at all. so you're starting to get closer to the line here and becoming more concerned. >> i said about the top, 22 days. but you get a paycheck. i get a paycheck. a lot of people watching us right now get their paychecks and see those deductions and payroll and that is all of a sudden becoming a big uh oh. >> and for people who process payrolls, it's actually december 14th, they say. they need to know for the software systems, for the way they're cutting your check for the beginning of the year, this is what the processors association basically says. they say, the american payroll association, a delay in legislature beyond december 14th doesn't give all businesses enough time to update for early january paychecks. they say it's worse if you delay a decision a few months because they can't figure out how to go back and change your withholdings. it's all kind of a software nightmare. >> it's going to be up to us then? our deductions won't be what they should be and therefore when we face the ta
will the fiscal cliff affect your personal situation? only 6% say not at all. so you're starting to get closer to the line here and becoming more concerned. >> i said about the top, 22 days. but you get a paycheck. i get a paycheck. a lot of people watching us right now get their paychecks and see those deductions and payroll and that is all of a sudden becoming a big uh oh. >> and for people who process payrolls, it's actually december 14th, they say. they need to know for the...
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Dec 10, 2012
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cliff in just over three weeks. one by one republicans are bowing to the president's demand that taxes go up for the wealthy. >> will i accept a tax increase as a part of a deal to actually solve our problems? yes. we don't have a lot of cards as it relates to the tax issue before you're in. i mean, we have one house that's it. the presidency and the senate in the democrat's hand. >> since we agree with the democrats 98% of the people and 08% of the bush tax cuts i would get that off the table now. >> democrats insist taxes are going up on the rich no matter what. >> if you don't increase tax rates on the highest 2% of income owners you cannot generate enough revenue to have meaningful deficit reduction. >> republicans want big spending can you tell us to programs. >> we don't want to be back here in another year and another 10 years answering the same questions. >> as the talks continue on both sides americans from main street to wall street wait to see who will blink first. >> both sides are earring to wind down t
cliff in just over three weeks. one by one republicans are bowing to the president's demand that taxes go up for the wealthy. >> will i accept a tax increase as a part of a deal to actually solve our problems? yes. we don't have a lot of cards as it relates to the tax issue before you're in. i mean, we have one house that's it. the presidency and the senate in the democrat's hand. >> since we agree with the democrats 98% of the people and 08% of the bush tax cuts i would get that...
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Dec 9, 2012
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and forget the fiscal cliff. deal or no deal. a new wave of taxes are the set to kick in next month, because of obamacare, will it be on the edge? , we'll break it down. >> mike: good morning, i'm mike in for dave. like the federal government do you have the urge to splurge? why impulse buying may be costing you and your family an extra $200 per month. >> plus, the twinky, may be here to stay after all. how one man is trying to save hostess from the brink of extension. "fox & friends" hour three starts right now. >> ♪ >> good morning, everyone, thanks so much. mike jerrick is here. >> mike: hello, can i say quickly? tomorrow is my brother, tom jerrick's birthday in maryland, and he's always at church every sunday morning, say hi to tom jerrick. >> clayton: so he was the disciplined one of the family. >> alisyn: we're getting this, you were the black sheep. >> mike: what are you trying to say? we have six kids. >> clayton: i'm saying that he's the colonel and you're not. >> mike: i'm just corny. mike jerrick is here everyone, gr
and forget the fiscal cliff. deal or no deal. a new wave of taxes are the set to kick in next month, because of obamacare, will it be on the edge? , we'll break it down. >> mike: good morning, i'm mike in for dave. like the federal government do you have the urge to splurge? why impulse buying may be costing you and your family an extra $200 per month. >> plus, the twinky, may be here to stay after all. how one man is trying to save hostess from the brink of extension. "fox...
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Dec 7, 2012
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believe me, those tax hikes are going to be a shock. forget the fiscal cliff stuff. what we know is coming, already will be a hock to the system. you lay that are with even more draconian tax hikes, more regulations and this war on business that i've been seeing, it's not going to be that great. >> you register surprise like i go when the 7.7% number came in. but we've got to find out, did the labor force shrink? that's the key to understanding the rate -- >> lot of economic data, the headlines look good. when you dig, it's been disappointing. >> let me conclude, that we have it, 7.7%, the unemployment rate in november. 146,000 jobs created. that's it for this fox business special report. we'll continue the coverage throughout the day. now back to our regular programming. >> steve: all right. thank you very much. it's interesting what peter barns said from washington and that was that in the two months running up to the election, now there apparently have been revisions for september and october. 50,000 fewer jobs were created than reported by the federal government.
believe me, those tax hikes are going to be a shock. forget the fiscal cliff stuff. what we know is coming, already will be a hock to the system. you lay that are with even more draconian tax hikes, more regulations and this war on business that i've been seeing, it's not going to be that great. >> you register surprise like i go when the 7.7% number came in. but we've got to find out, did the labor force shrink? that's the key to understanding the rate -- >> lot of economic data,...
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this is a game of chicken, which i think is designed to go over the fiscal cliff, and pin the blame on the republicans, i understand why the president is doing it for political reasons but i don't think that the republicans have to surrender themselves in this game of chicken. lou: it seems the ultimatum, raise taxes on top 2%, why not let him eat to, it is his decision, go for it, if you don't want a mature, and intelligence, and responsible negotiation, you do not know who you are dealing with, it is called a constitutional body of government. >> it is john's right, this is politics, hard and fast, 1995 all over again, stakes are high and and president wants house back, pin the blame on the republicans make them look like right wing lunatics and grab the chips, they are in a no-win position. lou: we'll be back, marianne has to weigh in and a bunch more as we continue with the a team stay with us. ♪ ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine even brighter. come to the winter event and get the merced
this is a game of chicken, which i think is designed to go over the fiscal cliff, and pin the blame on the republicans, i understand why the president is doing it for political reasons but i don't think that the republicans have to surrender themselves in this game of chicken. lou: it seems the ultimatum, raise taxes on top 2%, why not let him eat to, it is his decision, go for it, if you don't want a mature, and intelligence, and responsible negotiation, you do not know who you are dealing...
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ashley: more ahead on the economy and oh, yeah, that fiscal cliff. ftn economist lindsey piegza says washington is ignoring a much bigger problem than tax rates on the wealthy. she will explain just ahead. tracy: fox business exclusive for one company that saw its stock double after hurricane sandy. generac's ceo joins us ahead. look how oil is trading right now, basically unchanged, $86.04 a barrel. we'll be right back. tracy: it is time to make some money with charles payne. this hour we're looking at a california-based tech company. charles spent a lot of time in cali. >> yes. i'm starting to learn cali. i'm not really impressed with los angeles. i know it is a different story. ashley: not sitting in your car it's great. >> i went to the museum to see the exhibit. fantastic. anyone in l.a. should go see it. sandisk is the stock. it is a stock, we played it before. it pulled back a lot lately. i'm not sure why it pulled back so much. lately they have been doing pretty well. last night they beat the street by 46%. next year fiscal earnings estimates
ashley: more ahead on the economy and oh, yeah, that fiscal cliff. ftn economist lindsey piegza says washington is ignoring a much bigger problem than tax rates on the wealthy. she will explain just ahead. tracy: fox business exclusive for one company that saw its stock double after hurricane sandy. generac's ceo joins us ahead. look how oil is trading right now, basically unchanged, $86.04 a barrel. we'll be right back. tracy: it is time to make some money with charles payne. this hour we're...
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Dec 11, 2012
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host: the amt was part of our series on the different aspects of the fiscal cliff talks. you can go to our web site to find more details. today, the discussion is about domestic spending. if sequestration happens at the end of the month, and we are talking about $500 billion in domestic spending across the board, right, charles clark? guest: $500 billion over 10 years. $38 billion would be in 2013. host: when people say across-the board, automatic, what does that mean? guest: agencies have these accounts, and there are about 1200 of them, and the managers have not been permitted by the obama-care administration to map out exactly how and 8.2% cut, which is about the equivalent of a 12% cut because the fiscal year is about one-quarter old by the time they kick in, so it is more abrupt than people think. these program project activity accounts, each would have to be cut by 8.2%, and only last week did the obama administration give permission to the pentagon and other agencies to start publicly discussing and calculating exactly how many people, programs and services might h
host: the amt was part of our series on the different aspects of the fiscal cliff talks. you can go to our web site to find more details. today, the discussion is about domestic spending. if sequestration happens at the end of the month, and we are talking about $500 billion in domestic spending across the board, right, charles clark? guest: $500 billion over 10 years. $38 billion would be in 2013. host: when people say across-the board, automatic, what does that mean? guest: agencies have...
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Dec 12, 2012
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rove and joe trippy were asked to give their recommendation on the fiscal cliff. >> make believe you want to get to the compromise. >> let's cap it, itemize deductions. if you cap it at $25,000, you can lower all tax rates 20%, plus kill the alternative minimum tax forever and still have $1.3 trillion in revenue. or if you do it at $50,000 cap, it gives you $800 billion. >> oh, yes, rove is still the master of make believe. but he still must be under the impression that romney won the election. there's no way president obama and the democrats are going to lower tax rates by 20%. i've got to cut him some slack, though, it's been almost a month since he's had the opportunity to lie in public. as for dick morris, he's found something to do during his fox exile. ladies and gentlemen, the dick morris launch alert. ♪ >> don't give up. that's what we'll talk about today. there's a lot that we can do. there's a lot that we have to do in order to save this country of ours. >> and i am so glad to see dick morris is still on his toes. next, dick cheney is up to his old tricks, attacking u.s.
rove and joe trippy were asked to give their recommendation on the fiscal cliff. >> make believe you want to get to the compromise. >> let's cap it, itemize deductions. if you cap it at $25,000, you can lower all tax rates 20%, plus kill the alternative minimum tax forever and still have $1.3 trillion in revenue. or if you do it at $50,000 cap, it gives you $800 billion. >> oh, yes, rove is still the master of make believe. but he still must be under the impression that romney...
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those are the tax increases that are coming regardless of what happens with the fiscal cliff. and those are the tax hikes that we're seeing because of president obama's health care law. people who have been following this closely know that president obama's health care law guarantees that middle-class families will pay higher taxes. the president promised repea repeatedly that he would not raise taxes on the middle class. as a matter of fact he said -- quote -- "if you're a family making less than $200,00200,000a year, my plan won't raise your taxes one opiniony. not your income taxes, not your payroll taxes, not your capital gains taxes, not any of your taxes." that's what the president said. but once he got into office, president obama arranged for his health care plan to be written behind closed doors. democrats in congress passed it, and they did it strictly along party lines. this law has included more than 20 different tax increases. these tax increases amount to more than a trillion dollars over the next ten years. of those, a dozen taxes specifically targeted middle-cl
those are the tax increases that are coming regardless of what happens with the fiscal cliff. and those are the tax hikes that we're seeing because of president obama's health care law. people who have been following this closely know that president obama's health care law guarantees that middle-class families will pay higher taxes. the president promised repea repeatedly that he would not raise taxes on the middle class. as a matter of fact he said -- quote -- "if you're a family making...
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Dec 13, 2012
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and more people trust him to handle fiscal cliff negotiations than speaker boehner to handle the pole. poll. is that why people feel he's going to win at least talking about taxes. >> one, the approval rating is very high. two, republicans go either way. whether republicans want to cut a deal and raise taxes just on the rich or whether they won't go with a deal on january 1st, you'll see taxes to rise on everybody. there's a feeling with democrats they're going to win and get what they want either way. this is trufrustrating republic. when i talk to republicans privately, they say this is hugest from trags. the speaker has put $800 billion on the table and said he would go higher than if the president would come along with spending cuts. >> how high are you hearing? >> it's unclear. i think he's just signaling a willingness which many republicans tell me will also end up being a move on the tax rates. but he can't go there with his caucus, unless he has the spending cuts that he can sell $800 billion in revenue, and we're going to get you $800 billion in spending cuts. democrats don't
and more people trust him to handle fiscal cliff negotiations than speaker boehner to handle the pole. poll. is that why people feel he's going to win at least talking about taxes. >> one, the approval rating is very high. two, republicans go either way. whether republicans want to cut a deal and raise taxes just on the rich or whether they won't go with a deal on january 1st, you'll see taxes to rise on everybody. there's a feeling with democrats they're going to win and get what they...
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Dec 8, 2012
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cut to avert the fiscal cliff. >> we must reform uncomplicated tax code by getting rid of unjustified loopholes. but the goal should be to generate new revenue by creating new taxpayers, not new taxes. >> in the republican response, marco rubio commenting that raising taxes will not solve the $16 trillion debt. a potential presidential candidate in 2016, he says only economic growth and reforming programs can control the debt. >>> former florida governor which are lee crist says he is a democrat now. he made the announcement last night and posted a photo holding a florida voter registration application. the former republican signed papers to change his affiliation to democrat at a christmas reception at the white house. >>> president barack obama is asking congress for more than $60 billion to help with sandy recovery efforts. the president made the request on friday on behalf of the states hardest hit by the october storm. in a joint statement, new york governor cuomo and chris christie said it would help their state rebuild. >>> yesterday marked the 71st anniversary of the pearl har
cut to avert the fiscal cliff. >> we must reform uncomplicated tax code by getting rid of unjustified loopholes. but the goal should be to generate new revenue by creating new taxpayers, not new taxes. >> in the republican response, marco rubio commenting that raising taxes will not solve the $16 trillion debt. a potential presidential candidate in 2016, he says only economic growth and reforming programs can control the debt. >>> former florida governor which are lee crist...